When sales are down and cash flows are tight, businesses look for quick and reliable funding sources, and Merchant Cash Advance loans offer exactly that! At Whitestone Fund, we have leading loan providers in NYC who offer merchant cash advances of up to $1,500,000. Our terms are simple and less stringent than other lenders and traditional banks.
If your business receives income through cards and has at least four months of credit sales, you can access merchant cash advances within 48 hours!
Merchant Cash Advance Loans for Small Businesses in NYC
MCA loans are ideal for small to medium businesses with short trading histories and low credit scores. They allow you to borrow quick funds to make urgent payments or investments and overcome cash flow issues.
Unlike other loans with fixed repayment structures, merchant cash advance financing offers ease of repayment and other conveniences. When repaying a traditional loan, businesses have to make fixed monthly/weekly repayments irrespective of the revenue they make. This leads to poor cash flow and other financial issues.
With MCA financing, you borrow these advances against your future credit card sales, so you just have to pay a small percentage of your revenue. As a result, you can repay the full amount within 6–12 months while maintaining a healthy cash flow.
That’s not all; below are some more benefits of getting a merchant cash advance loan in NYC from the Whitestone Fund.
A Credit Check that Doesn’t Hurt Your Credit History
Some private lenders perform a hard credit check before offering a cash advance, potentially hurting your credit score. At Whitestone Fund, you don’t need to provide an in-depth analysis of your trading history. A light credit check and card processing history will suffice. Depending on the eligibility, we even process the MCA for small businesses on the same day.
Negotiate Better Terms for Yourself
By working with our loan agents, you can negotiate better terms and competitive interest rates. For example, if you’re new to the industry and require more flexibility than established SMEs, our team will find a way to make it happen. Moreover, there are no restrictions on loan usage. We provide complete freedom to borrowers to spend the loan however they see fit to increase their profitability. If your sales unexpectedly decline in the future and you have trouble meeting your obligations, we won’t put any pressure.
Use MCA Loans as an Additional Financing Stream
MCA loans can be used as an additional financing stream. There are times when businesses already have accessed fixed-term loans or credit facilities and require additional urgent funds. In such cases, a merchant cash advance will be an excellent solution. You can use this cash to either pay back the existing loan or make investments and repay your future sales. We realign your payment structure based on your specific circumstances with no rigid terms.
Get in Touch with the Leading Loan Providers in NYC
At Whitestone Fund, our goal is to help boost your profitability. Our loan application process is straightforward, and we consider your company’s projected sales to design an ideal solution. We work closely with our clients and lenders to keep the journey hassle-free for both parties.
To secure a merchant advance loan, you just need to provide the following basic information:
- Your social security number
- Your company’s contact details and tax ID number
- Proof of citizenship
- Bank statements and credit card processing history of several months
- Checking account number or a blank check
- Copy of your office’s lease
After you submit an application and these documents, it will only take us 24–72 hours to approve everything and make the transaction.
So what are you waiting for? Contact our loan providers now learn more about our MCA financing for small businesses in New York!
